Singapore-based property developer Ascendas Pte Ltd said on Tuesday it would develop a Rs 4-billion technology park in the eastern Indian city of Kolkata.
The developer, whose Ascendas Real Estate Investment Trust is Singapore's second-biggest listed property trust, said in a statement the project's first phase would start next January, with completion expected in early 2007.
A company spokeswoman in Singapore said the investment in the city was separate from a Rs 10-billion technology parks fund it announced in June.
India's $17.2-billion software and business service industry is driving growing demand for office space. Ascendas already has business parks in Hyderabad and Bangalore.
source: Reuters @4/Aug/2008
